Wednesday, November 17, 2010

Top 5 Survival Plan to Handle Divorce

Everyone who decided to be married has no intention to divorce later. Everyone is looking for a "live happily ever after" marriage. But when a couple cannot get along anymore, divorce is the final answer. Separation left both emotionally broken but when this hard decision has to make, do not let this bitter situation broke your financial too.  

How to survive and protect your security financial for later?

Survival Plan 1 - Reduce unneccessary expenses
Meet with your spouse and agree to cancel utilities and other bills. Sell off your personal property that you do not need or want anymore to save money.

Survival Plan 2 - Cancel all of your jointly owned credit cards.
You need to cancel the cards because the spouse can charge up all kinds of different charge on the cards and you will get stuck paying them back.  Canceling the cards now can save you money that you will need to have later on.

Survival Plan 3 - Separate the jointly owned bank accounts
If you have bank accounts together, you may want to divide the money first.  If not, your spouse may decide to go and take care of the money on their own and leave you with nothing.  If you have outstanding bills for the home, explain this to the spouse so that the arrangements can be made to pay for them.  

Survival plan 4 - Stop contributing to combined accounts like 401K and pension plans.
Telling your place of employment whom usually does this.  Make the necessary arrangements so that your money is not being added to this account.

Survival plan 5 -  Keep your job or try and find one
You have to make sure that you are protecting yourself and able to raise your family. If you are not getting any money from your spouse, you will have to do something to support your monthly needs.  You may want to ask your 'soon to be ex' if they can help you financially until the divorce proceedings are over.  This is only recommended if you are ending the divorce in a good way.  If you are fighting over everything and not getting along, you need to contact your attorney and have them ask for you. 

Learn more proven divorce tips and divorce strategies to save thousands of costly mistakes.

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